Digital asset treasuries (DATs) exploded in 2025. Public companies have raced to raise huge funds to add digital assets to their balance sheets. One of the notable names of this trend was XRP. In June, Singapore-based Trident Digital announced its plan to raise funds to create a $500 million XRP treasury. Shortly before this development, Webus International announced that it would establish a $300 million XRP reserve to support the global driver payment network. Saudi Arabia-based VivoPower International also joined the trend by announcing that it will establish a $121 million XRP treasury.
Evernorth Begins Trading on Nasdaq Under the Code “XRPN”
A major development took place in October. Evernorth entered the market with a target of $1 billion in gross revenue by signing a merger agreement with Armada Acquisition Corp II. The new company created as a result of this merger became the institution with the largest publicly traded XRP treasury in the world. As of October 30, Evernorth began trading on the Nasdaq exchange under the symbol XRPN. Asheesh Birla, the company’s CEO, emphasized that this move will bring institutional trust to the digital asset sector.
Ripple 
$2.51 In the statement made by , it was announced that CTO David Schwartz, together with Evernorth CEO Asheesh Birla and Armada Acquisition / Arrington Capital CEO Michael Arrington, will take part in a session on the “rise of DATs” at the Swell 2025 event to be held on November 4-5. It is expected that important clues about the future of XRP and Evernorth’s new road map will be given at this event.
New Acquisition Move from Ripple: GTreasury Agreement
Ripple took a step that shook the financial technology industry last month. The company announced that it acquired Chicago-based treasury management system software provider GTreasury for $1 billion. This strategic move was interpreted as part of Ripple’s aim to increase its influence in the corporate finance field. Ripple executives state that with the GTreasury integration, it will be possible to move the digital asset management processes of global companies to the XRP infrastructure.
The trend of increasing digital asset troves globally shows that XRP is regaining strength in the institutional arena. Evernorth’s listing on Nasdaq, Ripple’s billion-dollar acquisition, and giant companies creating XRP reserves indicate that trust in the cryptocurrency ecosystem has moved to the institutional level. However, the sustainability of this growth trend will depend on the shape of regulations and the overall stability of the crypto market.
